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Hong Kong: Stocks extend losses in opening trade

Mon, Jan 18, 2016 - 10:09 AM

PHOTO: AFP

[HONG KONG] Shanghai and Hong Kong stocks sank in early trade on Monday, picking up where they left off last week as energy firms were hit by another fall in oil prices after export sanctions against crude producer Iran were lifted.

The benchmark Shanghai Composite Index dropped 1.84 per cent, or 53.43 points, to 2,847.54, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, fell 2.04 per cent, or 36.64 points, to 1,759.49.

And in Hong Kong, the Hang Seng Index fell 1.20 per cent, or 233.39 points, to 19,287.38.